The Nigerian Exchange recorded a further decline on Tuesday as investors lost N478.7 billion in market value, extending losses recorded at the start of June and pushing total market capitalisation erosion to N2.29 trillion in two trading sessions.
Data from the Nigerian Exchange showed that the market capitalisation fell from N158.72 trillion on Monday to N158.22 trillion on Tuesday, while the All-Share Index declined by 0.35 per cent to close at 246,686.66 points.
The latest decline followed a N1.81 trillion loss recorded on June 1, making it the sharpest two-session market correction of 2026 so far.
📢 Stay Updated — Join Our WhatsApp Channel
💬 Be Part of Our WhatsApp Community
Join our WhatsApp Channel for curated updates, breaking stories, and exclusive insights from our newsroom.
📲 Join 👉 NRTC WhatsApp Channel
As a result, the market’s year-to-date return dropped to 58.53 per cent from 60.49 per cent recorded at the close of trading last Friday. The month-to-date return also slipped to negative 1.5 per cent after two consecutive losing sessions.
ALSO READ: Federal workers reject N100,000 minimum wage proposal
The banking sector recorded the biggest decline during the trading session. The NGX Banking Index fell by 1.63 per cent, following a 1.49 per cent drop recorded on Monday.
First HoldCo led losses in the sector after its share price declined by 6.7 per cent. Other major decliners included Wema Bank, which fell by 9.1 per cent, Zenith Bank with a 2.3 per cent loss, and FCMB.
Across the market, trading activity weakened as investors exchanged 718.77 million shares valued at N29.31 billion in 71,683 deals. This represented declines in volume, value and transaction count compared with the previous trading session.
Among gainers, International Energy Insurance rose by 9.86 per cent to close at N5.46, while Trans-Nationwide Express gained 7.14 per cent. Neimeth International Pharmaceuticals, Living Trust Mortgage Bank and Abbey Building Society also posted gains.
On the losers’ chart, PZ Cussons and Chellarams recorded the maximum daily decline of 10 per cent each. ABC Transport, Wema Bank and Sovereign Trust Insurance also closed lower.
ALSO READ: NGX posts weakest monthly gain of 2026
Sectoral performance remained largely negative. The Consumer Goods Index fell by 0.50 per cent, while the Insurance Index declined by 0.44 per cent. The Oil and Gas Index slipped marginally by 0.04 per cent.
The Industrial Goods Index was the only major sector to avoid losses, closing flat after Monday’s sharp decline.
🔍 Explore More
- NRTC English Knowledge Base – Learn, improve, and sharpen your English skills.
- Top Stories From Around the World – Stay informed with the latest global news and insights.
- Specially Curated Listicles – Discover interesting lists, guides, and deep dives selected for our readers.
- Stay Updated: Join our mailing list and never miss the latest articles and updates from NRTC.
Despite the correction, analysts noted continued institutional activity in major banking and energy stocks, with Access Holdings leading trading volume and Zenith Bank recording the highest value of transactions during the session.
